Friday, 27 February 2015

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Castor seed prices rose by 0.47 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh demand of the commodity in the major mandies. Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil. At the NCDEX, castor seed futures for March 2015 contract was trading at Rs. 3,659 per quintal tonnes, up by 0.47 per cent, after opening at Rs. 3,633 against the previous closing price of Rs. 3,642. It touched the intra-day high of Rs. 3,667 till the trading.For more information ✆ - 0731-6642300 on Currency Derivatives or Visit http://www.epicresearch.co

Silver trading range for the day is 36223-37301.Silver gained supported by a softer dollar and hopes that the U.S. central bank will not rush to raise interest rates.Fed chair Janet Yellen indicated that the U.S. central bank was in no rush to hike interest ratesConsumer prices in the U.S. fell a little more than anticipated due largely to the significant drop in oil prices

Crudeoil trading range for the day is 2964-3220.Crude oil fell sharply day as rising inventories in the United States pressured and countered expectations for recovering demand.Saudi oil minister Ali al-Naimi said demand was growing.Earlier in the week, a Gulf OPEC delegate predicted stronger demand growth in the second half of 2015.

Jeera trading range for the day is 13930-15120.Jeera prices gained due to some improvement in overseas enquiries and demand from spot buyers.Sowing of jeera in Gujarat and Rajasthan has been affected due to erratic monsoon and farmers fetching low prices in the last two years.NCDEX accredited warehouses jeera stocks gained by 90 tonnes to 12547 tonnes.In Unjha, a key spot market in Gujarat, jeera edged down by -215 rupees to end at 15025 rupee per 100 kg.

Turmeric trading range for the day is 8714-9154.Turmeric prices ended with losses on sluggish local demand and weak enquiries from overseas buyers.The acreage has gone up to 50,207 hectares from 43,124 hectares in Telangana and to 18,749 hectares from 10,240 hectares.At Nizamabad market arrivals were reported at 10000 quintals, lower by 2000 quintals from previous trading day.

Chana trading range for the day is 3653-3743.Chana prices ended with gains due to fresh demand in the spot market.Chana prices are sustaining at higher levels on expected drop in output caused due to lower sowing.Area under Chana as on now stands at 85.91 lakh ha compared with the 102.25 lakh ha area planted last year.In Delhi spot market, chana gained by 45 rupee to end at 3622.6 rupee per 100 kgs.

Menthaoil spot is at 864/-. Spot market remains unchanged.Mentha oil prices dropped due to sluggish demand from consuming industries in the spot market.Besides, ample stocks availability following higher supplies from the major producing belts of Chandausi in Uttar Pradesh.

Reports of rains in some areas in growing state of UP limited the upside for Mentha Oil as the sowing is set to start.